I for one would like to see a "fair share tax" increase for all....but only after we see the politicians get real with the spending cuts. Then we will know just how much of a tax increase is necessary.
The problem with first balancing the budget via spending cuts only, is that even if you get rid of ALL discretionary spending (military too), unless you address the rise in medical costs, you will simply have to re-visit all your cuts in a few years when the budget goes back into deficit. This is due to medical costs rising faster than the growth in GDP. (This is also why an Amendment is such a piss poor idea.) Basically, you would get yourself into a position of always cutting, year over year, while never getting balanced for more than a year or two and never addressing your revenue.
However, if you first raise taxes back up to historic norms (19%-20% of GDP) or even slightly higher (23%), now you have a target for your cuts and cost controls. And it's a target that won't change year over year. Now you know what to aim for in controlling medical costs and keeping long term spending manageable.